Finance professionals today are under increasing pressure to deliver faster, more accurate, and cost-effective results. Automation is no longer a buzzword; it’s a proven strategy for transforming finance operations. Recent research from APQC, in collaboration with IBM’s Institute for Business Value, highlights how leading organizations are leveraging automation to achieve measurable gains in efficiency and performance.
Where Are We on the Automation Journey?
Most finance teams have moved beyond pilots and are actively implementing automation in core areas like order-to-cash (O2C), record-to-report (R2R), financial planning and analysis (FP&A), and procure-to-pay (P2P). Yet only a small percentage are optimizing automation at scale, signaling untapped potential for further improvement.
Real Results, Real Impact
The numbers speak for themselves: organizations report a 25% reduction in O2C cycle times and a 35-point improvement in FP&A forecast accuracy. Automation tools such as RPA and bots deliver higher accuracy and fewer errors, especially in areas where finance has traditionally struggled, like forecasting and compliance.
What Sets Leaders Apart?
While the median ROI for finance automation is 45%, top performers are achieving 55% or more. The difference? Leaders invest in data quality, upskilling, and modern infrastructure. Reliable data remains the top challenge, followed by outdated systems and skills shortages. Automation is not “plug and play”, it requires a holistic approach that integrates people, processes, and technology.
Best Practices for Finance Teams
High-performing organizations focus on process improvement, standardization, and fostering a culture of continuous improvement. However, fewer than half are actively identifying the right data for automation missed opportunity for many.
Strategic Focus Areas
Finance teams are prioritizing automation where it delivers the most value: improving planning accuracy in FP&A, streamlining revenue capture in O2C, accelerating closes in R2R, and tightening spend control in P2P. The key is to invest in where automation can drive measurable impact.
Are you ready to take your finance function to the next level? Start by assessing your current automation maturity, invest in data quality and upskilling, and focus on areas where automation can deliver the greatest impact. Leverage insights from APQC and IBM to guide your strategy and unlock the full potential of finance automation.